Foresters Financial Reviews | Glassdoor

Foresters Financial Reviews

Updated November 20, 2017
353 reviews

Filter

Filter

Full-timePart-time

353 Employee Reviews

Sort: PopularRatingDate

Pros
Cons
  • If you aren't a natural, work/life balance will suffer (in 20 reviews)

  • You will cold call or call all of your friends and family and that is really the hardest part of this business for newcomers (in 18 reviews)

More Pros and Cons

  1. "Financial representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Walnut Creek, CA
    Former Employee - Financial Representative in Walnut Creek, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Foresters Financial full-time (More than a year)

    Pros

    fast moving skill teaching. Breaking college fear scares. helps with communication/face to face interations.

    Cons

    low pay. self driven leads. contacting personal friends and family.

    Advice to Management

    help with new prospective clients


  2. Helpful (1)

    ""Financial Planning" = Life Insurance Selling"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Beaverton, OR
    Former Employee - Financial Services Representative in Beaverton, OR
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Foresters Financial full-time (More than a year)

    Pros

    They provide a team like approach and you'll have support from your peers. And they do pay you in the beginning which is better than most financial services companies out there.

    Cons

    Very High Sales Pressure environment. They say they are a "full services" company yet every single financial component leads to selling Life Insurance. Because of the new DOL rules coming out they are changing their model to life insurance because it is "less regulated" and "more profitable" than investments, as told by the branch manager during a meeting. You also have to start out with your own life insurance license and have to start calling your friends and family to sell life insurance to them before you really learn much about the business. Also comission payouts are terrible compare to other companies and can easily be out quoted as well. However if you like having a team, enjoy sales contests and are fine with just being an insurance agent then it may work out. Also be prepared to be publicly humiliated if you don't produce enough business in a week.

    Advice to Management

    Don't be hypocritical. Don't make fun of other reps publicly for not looking business professional by not wearing a tie when the very next day you walk in wearing sweats and a hoodie because its your "day off". Listen to the other reps and not go with a 'one style fits all' attitude in working with them to become successful as not one style flows with everyone. Maybe then you guys wouldn't have had so much turnover the last two years. And lastly provide free coffee for the reps and assistants in the office. They go through so much, the least you can do is give them a pick me up like every other normal company.

  3. "Terrible Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Seattle, WA
    Current Employee - Financial Services Representative in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Foresters Financial full-time (Less than a year)

    Pros

    Great coworkers, easy entry level job.

    Cons

    Poor management, no training program for new representatives, terrible work environment, no work-life balance, no benefits.

    Advice to Management

    If the only way to learn the job is through failure, you need to reconsider your training program.


  4. Helpful (1)

    "Foresters Financial used to be a great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Edison, NJ
    Former Employee - Anonymous Employee in Edison, NJ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Foresters Financial full-time (Less than a year)

    Pros

    Depending on the area you work in and your role, many nice co-workers and opportunity to learn a lot. Company rewards employees by allowing them to dress casually many times throughout the year.

    Cons

    Favoritism is prevalent throughout the organization. High turnover of senior leadership. Company doesn't offer performance bonuses. Low moral

    Advice to Management

    Invest in your home office personnel more and you will reap a greater return. Should consider a more effective work performance review process that encourages employees to excel.


  5. "Financial representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Foresters Financial full-time (Less than a year)

    Pros

    If you are a likable person who has good connections, and if you are a likable person who has good connections, you should be pretty successful.

    Cons

    The manager is extremely condescending to some of his reps. He offers minimal to no support but expects you to be an all star on your own.

    Advice to Management

    Retrain your managers and teach them how to lead or hire new ones.


  6. Helpful (3)

    "Great Company!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Administrative Principal in Tampa, FL
    Current Employee - Administrative Principal in Tampa, FL
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Foresters Financial full-time (More than a year)

    Pros

    No flinching on overtime pay or Vacations

    Cons

    Long hours and sub par training schedules for the new sales teams.


  7. "Financial Services Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative
    Former Employee - Financial Services Representative
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Foresters Financial full-time (Less than a year)

    Pros

    Good personal growth, I learned a lot about myself and how to conquer some of the fears I had of networking and reaching out to people. I feel I gained a great deal of professional skills I will use in the future.

    Cons

    In the beginning they limit you to only your personal network. No leads given and it is very hard to get up-and-running if you don't have a large personal network. Management acted indifferent to the success of new reps.

    Advice to Management

    Given that the turnover rate in the industry is almost 100 percent, you should be a little more invested in the success of your new people, as retention is the only way the company will grow. When the manager who is supposed to be the new rep "mentor" is spending at most an hour a day with those people, you cannot expect that they will become successful by chance.

  8. "Great Place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    great people, can make a lot of money

    Cons

    largely commission based if that's what you are seeking

    Advice to Management

    less hand holding, more autonomy


  9. Helpful (2)

    "Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in Edison, NJ
    Current Employee - Associate in Edison, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Foresters Financial full-time (More than a year)

    Pros

    Great place to learn, work, and start a career

    Cons

    Sometimes things take too much time in the pipeline

    Advice to Management

    Thank you for being great and offering amazing guidance


  10. Helpful (1)

    "Employee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Employee in Edison, NJ
    Former Employee - Employee in Edison, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Foresters Financial full-time (More than 5 years)

    Pros

    There are literally no pros to this company. If you live locally then you will have a good commute other than that, it's a paycheck - No more and no less.

    Cons

    If you are a person of color this is not a welcoming company. The blatant favoritism that occurs is very saddening. Not to mention that the company does not have a diversity and inclusion strategy but pretends that it's welcoming to all cultures and races - don't believe it - it's a lie. This is further supported by the company's leadership team. Visit foresters.com and you will not see any people of color.

    Your job description will be a moving target and more and more just gets piled up on you - and your pay will not increase.

    No pension plan
    401k plan is highly restrictive
    Health insurance is subpar
    No work life balance
    No flexible work schedule
    No short term disability
    No maternity leave
    No work from home privileges as part of your standing schedule.
    Too much favoritism, which demonstrates a lack of professionalism. Never should a VP have a closed door lunch with only select individuals on their team and walk out afterwards cackling. Looks very shady. Nor should they have conversations about another team member's projects with select individuals on their team and purposely not engage the person who is the center of the discussion.
    Not to mention when those same VPs choose to only engage their staff members who are not of color in conversation it becomes extremely disheartening.

    If you are a minority you will feel isolated- and that's because you are!

    Advice to Management

    Stop the favoritism and blatant racism. Treat people like you actually value them. You spend all this time and money talking about being community minded and giving back - but treat your employees poorly.


Showing 353 of 433 reviews
Reset Filters